Do you have cash flow problems that are plaguing your business? Is a shortage of cash keeping you from growing your business and taking on customers that can take you to the next level? If so, you are not alone. Some businesses turn to banks to try and cover the cash flow shortage, however there is a different way to handle the situation. You can sell invoices for cash.
That’s right. If you are sitting on invoices that are awaiting payment from your customers, you are sitting on a goldmine. These invoices can be sold to factoring companies in exchange for a lump sum of cash.This is not a loan, so there are little qualifying criteria and no repayment obligations, making it perfect for small businesses and startup companies. Factoring invoices simply allows you to sell invoices for a discounted face value in exchange for a near-immediate access to useable cash. All you need are open invoices and creditworthy customers. Best yet, you are able to access the cash within days from factoring your invoices.
The best news of all is that factoring can be used to liquidate both current and defaulted open invoices, making them a great solution for companies who do not have the resources to hire a collections department or that choose to protect their customer relationships rather than harassing customers for payment.
When you fill out a rate form, one of our Business Development Associates will give you a quick call to determine if we’ll be a good fit for your company’s needs.